This summer while many investors were away for family vacation, gold made a major breakout through $1350 USD and into new multi-year highs as we highlighted. Now its only a stone's throw from $1600. Then only a short few weeks ago, silver followed gold breaking out of a major base. Now its above $19.
The Gold-Silver Ratio which hit a high above 90 to 1 this summer is now breaking down finally. That's a good sign for the small junior explorers that are closely correlated with silver. The juniors have been pretty much ignored since 2012. We could be just starting an inflow back into the junior miners. Prior rallies like 2003-2007 and 2009-2011 could signal a powerful reversal of the prior bear market trend.
Look at this chart of the gold stocks in relation to gold bullion. Its finally breaking out of downtrend after hitting a record low. Notice how the early investors in that bull market in 2000 made out.
News is beginning to hit the markets from some of our explorers. I have a few investments in the Golden Triangle in BC this season. This is where we have seen a lot of interest by the majors recently most notably Newmont in their recent investment in $GTT.V GT Gold which continues to hit great results but may be fairly valued at $110 million.
Another one which is just getting started is Libero Copper $LBC.V which should change its name and add gold as they just made a significant gold discovery today. Their Geologist and VP Exploration is Leo Hathaway who works with Ross Beatty at Lumina and has 25 years experience making numerous discoveries.
Leo was very instrumental in the early success of Lumina started in 2004 and now has over a $200 million market cap. Libero still has a market cap under $15 million but they are working on a project which looks almost identical to GT Gold early days in the Golden Triangle. Their Big Red Project looks very exciting especially after all the technical modeling work done by Leo and the team. They see some parts of the project with great potential and just raised $3.7 million to drill it.
Today Libero announced sampling results which confirm a new gold discovery. "5 contiguous 50 metre continuous rock chip samples returned intervals of 2.91 grams per tonne gold over 250 metres including 6.14 grams per tonne gold over 100 metres in two contiguous samples." Drilling this September could confirm another major Golden Triangle Discovery that hardly no one knows about yet. See the full news release by clicking here...
Libero will be presenting at MIF in Vancouver and Precious Metals Summit in Beaver Creek. Schedule a meeting by contacting them here: +1 604 638 2545 firstname.lastname@example.org
See my new interview with Libero $LBC.V VP Exploration Leo Hathaway by clicking here...
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